Prudential Financial Inc. Sells 22,982 Shares of ABM Industries Incorporated (NYSE:ABM)

Prudential Financial Inc. lessened its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 203,281 shares of the business services provider's stock after selling 22,982 shares during the quarter. Prudential Financial Inc. owned 0.33% of ABM Industries worth $10,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ABM. Vanguard Group Inc. boosted its stake in ABM Industries by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,198,258 shares of the business services provider's stock valued at $419,587,000 after buying an additional 55,584 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ABM Industries by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider's stock valued at $76,582,000 after purchasing an additional 7,050 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of ABM Industries by 2,322.1% during the 4th quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock valued at $60,582,000 after purchasing an additional 1,134,825 shares during the last quarter. Pzena Investment Management LLC increased its position in ABM Industries by 22.5% during the 4th quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider's stock worth $43,550,000 after purchasing an additional 156,450 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in ABM Industries by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 818,810 shares of the business services provider's stock valued at $41,907,000 after purchasing an additional 19,783 shares during the last quarter. Institutional investors own 91.62% of the company's stock.

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Insider Transactions at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the transaction, the chief accounting officer now directly owns 18,681 shares of the company's stock, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the sale, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

ABM Industries Trading Up 0.1 %

Shares of NYSE:ABM traded up $0.05 during midday trading on Wednesday, hitting $47.94. 99,929 shares of the stock were exchanged, compared to its average volume of 401,168. The business's 50-day moving average price is $51.27 and its 200 day moving average price is $52.81. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 2.75 and a beta of 1.05. ABM Industries Incorporated has a 12 month low of $42.63 and a 12 month high of $59.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, April 3rd. ABM Industries's dividend payout ratio (DPR) is currently 84.13%.

Analyst Ratings Changes

Separately, UBS Group decreased their target price on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.